XET announces photovoltaic power extraction breakthrough

XET has executed an option agreement to sell its technology for $100 million to EOS Renewable Technologies. In a technical memorandum EOS is releasing, for the first time, data from the U.S. Army, Navy and Marines that has been declassified demonstrating significant improvements in the performance of solar energy systems using XET’s technology. These improvements represent billions of dollars in profits for solar developers while reducing the cost of solar power for everyone.

The first license executed via EOS is a non-exclusive license for patent pending technologies to Cool Earth Solar. "Cool Earth's mission is to change the dynamics of the solar industry," said Rob Lamkin, CEO of Cool Earth Solar. "By licensing EOS Renewable XPX technology, we expect to increase energy production from our solar power plants with no increase in capital costs."

XET LLC CEO Marty Lettunich said “Our XPX energy technology is a disruptive technology that can provide a dramatic increase in the usable power from a PV solar system while substantially lowering total system cost. When reduced to an electronic chip size, the XPX technology will change the way solar power works. Imagine solar panels connected directly to the electric utility grid, producing AC power without the need of a separate inverter. Also imagine cell phones, MP3 players and portable devices never needing to be plugged into a receptacle for charging.”

XET CTO Stefan Matan describes the XPX technology as being “contained on a printed circuit board (PCB) device that extracts power from any unstable energy source through a combination of patent pending design and proprietary algorithms. The XPX technology has both DC and AC output iterations.”

Related categories:  Eco-friendly Power generation   Energy saving technologies   Environmental technology Companies   Solar power and photovoltaics 

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